Iran issues local credit cards for the first time in decades + MORE Sep 26th

TEHRAN, Iran – Iranian banks have begun issuing credit cards for the first time in decades, local media reported on Monday.
The report by several newspapers, including the daily Donya-e-Eqtesad or World of Economy in Farsi, said the cards will be for domestic use only and do not involve any sort of partnership with a major international credit card company.
The cards are usable for purchasing products and services from Iranian online shops as well. The move is aimed at helping to boost Iran’s sanctions-damaged economy.
The credit limits and fee percentages will be fixed by Iran’s Central Bank, although individual banks will be responsible for determining if a customer qualifies to receive a card.
Cards will come in three set credit limit amounts, with a top tier of 50 million rials, or about $14,000. Bills that are not paid within a month will be subject to 18 per cent APR fees.
So far, Iranian banks have only issued debit and prepaid cards.
The move comes following last summer’s landmark nuclear deal that brought the lifting of international economic sanctions in return for capping Iran’s nuclear activities…

Three new domestic banks have opened in Canada since July with specific target markets

TOKYO – Asian shares were mostly lower Monday as market attention turned from action from central banks to the U.S. presidential race, with a closely watched debate upcoming.
KEEPING SCORE: Japan’s benchmark Nikkei 225 edged down 0.8 per cent in morning trading to 16,623.05. South Korea’s Kospi slipped nearly 0.2 per cent to 2,050.86. Hong Kong’s Hang Seng lost 1.1 per cent to 23,437.65, while the Shanghai Composite fell 0.6 per cent to 3,015.10.
WALL STREET: The fall on Wall Street last week also weighed on market sentiments in Asia. The Dow Jones industrial average lost 131.01 points, or 0.7 per cent, to 18,261.45. The Standard & Poor’s 500 index lost 12.49 points, or 0.6 per cent, to 2,164.69 and the Nasdaq composite index lost 33.78, or 0.6 per cent, to 5,305.75.
THE DEBATE: Hillary Clinton and Donald Trump will confront each other face-to-face for the first time in Monday night’s 90-minute, prime-time presidential debate. Television audience is expected to set a record for the high-stakes showdown, which could help tip the balance in a tight White House race…

When you’re trying to get out of debt, the last thing you want is a financial setback. Unfortunately, life can throw us a curveball every so often, and this comes with unforeseen expenses. Your car could break down and require expensive repairs, you might throw out your back and need several sessions with a chiropractor, or you could chip a tooth and undergo costly dental work that your insurance doesn’t cover.
These types of emergency expenses are things that you can’t plan for in advance. For that reason, they often cause people to go into debt since they don’t have the cash put aside to pay for these costs and must turn to their credit card.
If you’re trying to get out of debt by the end of 2016, the last thing you need are unexpected expenses derailing your plans. Not only will that add to the challenge of repaying your debt, but it can push you to go further into the red if you can’t adjust your budget to absorb the costs.
So, what can you do to deal with an emergency expense and stay on track with your goal of becoming debt-free by the end of this year? Here are a few suggestions:
Find Ways to Cope with the Cost
If you experience an emergency while you’re in the process of paying off debt, if possible try to delay the expense until you can afford to pay for it with cash…

Asian shares began the week under a cloud on Monday after losses on Wall Street, as investors’ attention turned from central banks to American politics ahead of the first U.S. presidential debate